Brokers Issue Forecasts for TC Energy Co.’s FY2023 Earnings (TSE:TRP)

TC Energy Co. (TSE:TRPFree Report) (NYSE:TRP) – Equities researchers at Atb Cap Markets increased their FY2023 EPS estimates for TC Energy in a report issued on Sunday, February 4th. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $4.17 per share for the year, up from their prior estimate of $4.14. The consensus estimate for TC Energy’s current full-year earnings is $4.17 per share. Atb Cap Markets also issued estimates for TC Energy’s Q4 2023 earnings at $1.04 EPS.

TC Energy (TSE:TRPGet Free Report) (NYSE:TRP) last posted its quarterly earnings data on Wednesday, November 8th. The company reported C$1.00 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.03. TC Energy had a net margin of 0.07% and a return on equity of 0.11%. The company had revenue of C$3.94 billion during the quarter, compared to analyst estimates of C$3.23 billion.

Other equities analysts also recently issued research reports about the company. CIBC upped their target price on TC Energy from C$54.00 to C$55.00 and gave the company a “neutral” rating in a report on Monday, January 8th. JPMorgan Chase & Co. dropped their target price on TC Energy from C$57.00 to C$55.00 in a report on Thursday, October 19th. Scotiabank dropped their target price on TC Energy from C$55.00 to C$54.00 in a report on Tuesday, October 24th. Wells Fargo & Company raised their price objective on shares of TC Energy from C$54.00 to C$57.00 in a research report on Thursday, December 14th. Finally, UBS Group raised their price objective on shares of TC Energy from C$45.00 to C$47.00 in a research report on Monday, October 16th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Hold” and a consensus price target of C$54.94.

Check Out Our Latest Stock Report on TRP

TC Energy Price Performance

Shares of TRP opened at C$51.36 on Tuesday. The company has a market capitalization of C$53.41 billion, a price-to-earnings ratio of -366.86, a P/E/G ratio of 0.70 and a beta of 0.80. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$57.47. The company has a debt-to-equity ratio of 193.59, a current ratio of 0.86 and a quick ratio of 0.40. The business’s 50-day moving average is C$52.38 and its 200-day moving average is C$49.90.

Insider Activity

In other news, Senior Officer Christine R. Johnston sold 845 shares of TC Energy stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of C$53.30, for a total value of C$45,038.50. In other news, Senior Officer Christine R. Johnston sold 845 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of C$53.30, for a total value of C$45,038.50. Also, Director Troy Tally sold 900 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of C$38.11, for a total transaction of C$34,299.99. Insiders have sold a total of 3,690 shares of company stock valued at $179,330 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date was Thursday, December 28th. TC Energy’s dividend payout ratio is -2,657.14%.

About TC Energy

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TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,700 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

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Earnings History and Estimates for TC Energy (TSE:TRP)

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